Looking to capitalize on the success of its Global X Guru Index ETF (NYSEArca: GURU), New York-based Global X will introduce two more so-called guru ETFs Tuesday.
Launching today are the Global X Guru Small Cap Index ETF (NYSEArca: GURX) and the Global X Guru International Index ETF (NYSEArca: GURI). Both ETFs will have a 0.75% expense ratio. The two new ETFs, like the original GURU ETF, are comprised of high conviction ideas based on 13F filing data from a select pool of hedge funds. [Guru ETF Lineup to Expand]
GURI will track the Solactive Guru International Index, which follows the price movements of the top U.S. listed international equity holdings of a select group of Hedge Funds and Institutional Investors based on quarterly regulatory filings, according to index provider Solactive.
GURX will follow the Solactive Guru Small Cap Index, which tracks the price movements of the top U.S. listed small cap equity holdings of a select group of Hedge Funds and Institutional Investors based on quarterly regulatory filings from the SEC. To be included in the Index, companies must have a market capitalization between $100 million and $3 billion, says Solactive.
Holdings in the Solactive Guru Small Cap Index include Flotek Industries (NYSE: FTK), Accretive Health (NYSE: AH) and Leap Wireless (NasdaqGS: LEAP), according to Solactive data.
The indices, launched on March 4, are both equal weighted.